Commissioners Court Meeting

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Meeting Date:	09/24/2018
Government Capital Corporation Financing for 44 units
Submitted for:	Joe Lopez	Submitted By:	Joe Lopez
Department:	Purchasing

Subject:

Discussion and possible action to approve an order and resolution for the purpose of authorizing a public property finance contract issued under Local Government Code Section 271.005 (Authority to Contract for Personal Property) between Government Capital Corporation and Webb County for the purpose of financing law enforcement equipment by selecting one of the two options listed below and further rescinding the action taken on September 10, 2018 under Item 24 approving a financing option in the amount of $1,365,129.46 and authorizing the Civil/Legal division to prepare and finalize all related documents with final authorization from the County Judge and any other matters incident thereto. [Requested by Commissioners Court]

Option includes 44 APX 8500 Mobile Radios	Option Excludes 44 APX 8500 Mobile Radios
Equipment Cost: $1,647,065.55	Equipment Cost: $1,353,690.63
Term: 5 annual payments - 3.876%	Term: 5 annual payments - 3.876%
Payment Amount: $368,687.65	Payment Amount: $303,017.09
Payment Begins one year from signing	Payment begins one year from signing

Issue: On September 10, 2018, Commissioners Court authorized the Purchasing Agent to lease 44 Chevrolet Tahoe Police interceptors from Enterprise Fleet Management for a 5-year term. The Court further authorized the financing of all equipment necessary for police units to function as public safety vehicles.

Solution: Approve the financing of all law enforcement equipment required for the 44 leased units from Government Capital Corporation for a 5 year term with first payment due 12 months after signing.

Results: Secure the financing to purchase the required law enforcement equipment for the 44-leased units that will be assigned to the Sheriff’s Office and for the four (4) Constable Precincts.

Background:

None

Previous Court Action:

Approval to lease 44 law enforcement units from Enterprise Fleet Management, 9/10/2018, item 24

Fiscal Impact

Budget Account Number:	TBD
Funding Source:	Capital Outlay
Balance:	TBD
Financial Impact:
Option includes 44 APX 8500 Mobile Radios Option Excludes 44 APX 8500 Mobile Radios Equipment Cost: $1,647,065.55 Equipment Cost: $1,353,690.63 Term: 5 annual payments Term: 5 annual payments Payment Amount: $368,687.65 Payment Amount: $303,017.09 Payment Begins one year from signing Payment begins one year from signing